Larson Financial Group LLC Purchases New Position in WEC Energy Group, Inc. (NYSE:WEC)

Larson Financial Group LLC bought a new position in shares of WEC Energy Group, Inc. (NYSE:WECFree Report) during the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor bought 1,000 shares of the utilities provider’s stock, valued at approximately $81,000.

Several other large investors have also modified their holdings of the business. Advisors Capital Management LLC increased its holdings in shares of WEC Energy Group by 2.3% in the third quarter. Advisors Capital Management LLC now owns 4,799 shares of the utilities provider’s stock valued at $444,000 after purchasing an additional 108 shares during the last quarter. Stonebridge Capital Advisors LLC boosted its position in shares of WEC Energy Group by 12.1% during the fourth quarter. Stonebridge Capital Advisors LLC now owns 1,059 shares of the utilities provider’s stock worth $99,000 after buying an additional 114 shares during the period. Portside Wealth Group LLC boosted its position in shares of WEC Energy Group by 1.2% during the third quarter. Portside Wealth Group LLC now owns 10,374 shares of the utilities provider’s stock worth $837,000 after buying an additional 127 shares during the period. Blossom Wealth Management raised its stake in shares of WEC Energy Group by 3.6% in the third quarter. Blossom Wealth Management now owns 3,797 shares of the utilities provider’s stock valued at $306,000 after acquiring an additional 132 shares in the last quarter. Finally, Tanglewood Legacy Advisors LLC raised its stake in shares of WEC Energy Group by 22.7% in the second quarter. Tanglewood Legacy Advisors LLC now owns 736 shares of the utilities provider’s stock valued at $65,000 after acquiring an additional 136 shares in the last quarter. 75.75% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

WEC has been the topic of a number of research analyst reports. Barclays cut their target price on WEC Energy Group from $82.00 to $79.00 and set an “underweight” rating on the stock in a research report on Monday. Bank of America reissued an “underperform” rating and set a $78.00 price target (down previously from $84.00) on shares of WEC Energy Group in a research note on Thursday, January 4th. JPMorgan Chase & Co. lifted their price objective on WEC Energy Group from $91.00 to $93.00 and gave the stock a “neutral” rating in a research report on Thursday, November 30th. StockNews.com downgraded WEC Energy Group from a “hold” rating to a “sell” rating in a research report on Saturday, January 13th. Finally, UBS Group cut their price objective on WEC Energy Group from $87.00 to $80.00 and set a “neutral” rating for the company in a research report on Wednesday, October 4th. Three research analysts have rated the stock with a sell rating, five have issued a hold rating and three have assigned a buy rating to the stock. Based on data from MarketBeat, WEC Energy Group has an average rating of “Hold” and a consensus price target of $88.75.

Check Out Our Latest Report on WEC Energy Group

WEC Energy Group Stock Down 0.5 %

NYSE:WEC traded down $0.39 on Friday, reaching $79.62. The stock had a trading volume of 841,837 shares, compared to its average volume of 2,206,043. The stock has a market cap of $25.11 billion, a P/E ratio of 18.48, a price-to-earnings-growth ratio of 2.74 and a beta of 0.42. The company has a 50-day moving average of $83.13 and a 200 day moving average of $84.22. The company has a current ratio of 0.60, a quick ratio of 0.42 and a debt-to-equity ratio of 1.32. WEC Energy Group, Inc. has a 12-month low of $75.47 and a 12-month high of $99.26.

WEC Energy Group (NYSE:WECGet Free Report) last issued its earnings results on Tuesday, October 31st. The utilities provider reported $1.00 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.91 by $0.09. The business had revenue of $1.96 billion for the quarter, compared to analyst estimates of $2.03 billion. WEC Energy Group had a net margin of 14.80% and a return on equity of 11.48%. The company’s revenue for the quarter was down 2.3% on a year-over-year basis. During the same quarter in the prior year, the business posted $0.96 EPS. On average, research analysts predict that WEC Energy Group, Inc. will post 4.62 earnings per share for the current year.

WEC Energy Group Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, March 1st. Shareholders of record on Wednesday, February 14th will be paid a $0.835 dividend. The ex-dividend date is Tuesday, February 13th. This represents a $3.34 annualized dividend and a dividend yield of 4.19%. This is a positive change from WEC Energy Group’s previous quarterly dividend of $0.78. WEC Energy Group’s dividend payout ratio (DPR) is presently 72.06%.

Insider Buying and Selling at WEC Energy Group

In related news, Director Ulice Payne, Jr. sold 600 shares of the firm’s stock in a transaction that occurred on Tuesday, November 28th. The shares were sold at an average price of $83.46, for a total transaction of $50,076.00. Following the completion of the sale, the director now directly owns 20,933 shares in the company, valued at $1,747,068.18. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. 0.34% of the stock is owned by company insiders.

WEC Energy Group Profile

(Free Report)

WEC Energy Group, Inc, through its subsidiaries, provides regulated natural gas and electricity, and renewable and nonregulated renewable energy services in the United States. The company operates through six segments: Wisconsin, Illinois, Other States, Electric Transmission, Non-Utility Energy Infrastructure, and Corporate and Other.

Further Reading

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Institutional Ownership by Quarter for WEC Energy Group (NYSE:WEC)

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